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As Employment Market Improves, Many Executives Are Ready To Jump Ship
www.execunet.com – December 01, 2005 – With recruiters predicting double-digit job growth at the executive-level for the start of 2006, a recent survey conducted by ExecuNet, the executive job search and recruiting network, finds a growing number of corporate leaders are unhappy with their current position and preparing to leave.
According to the survey of 147 employed executives, 67% are not satisfied with their current job – up from 55% in July 2005 – and of those who are not satisfied, 78% plan to change companies in the next six months.
The top five reasons why employed executives are unhappy with their current jobs include:
Poor corporate culture;
Limited opportunity for advancement;
Lack of challenge or personal growth;
Compensation; and
Boss is not a good match.
"Companies have neglected retention for too long and now that the competition for talent is heating up, many are responding with too little, too late," says Dave Opton, CEO and Founder of ExecuNet. "When you consider the costs of recruiting, hiring, and training a new executive, it’s no surprise that the most successful companies never lose sight of the importance of rewarding their top talent with more than just compensation."
Among the executives surveyed, the average amount of time spent in their current job is 6.0 years and their mean compensation totals $171,900.
A separate ExecuNet survey of 148 recruiters may help to explain why executives are gaining enough confidence in the employment market to look for new opportunities. According to this survey, the executive search industry is expecting a 15% increase in the number of assignments received from corporate clients during the next six months – up from 12.5% one month ago.
ExecuNet, the executive job search and recruiting network, is a recognized authority in executive hiring and recruiting trends. ExecuNet helps members identify career opportunities and attain professional success by providing exclusive job postings, opportunities and tactics designed to expand personal and professional networks, and career advancement strategies.
Founded in 1988, ExecuNet also serves recruiters and corporations as a leading source of top-tier executive talent and proprietary research. For more information on ExecuNet visit www.execunet.com
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